HSBC sells HACL to Jardine Lloyd

1st Dec 2009 08:34

HSBC Insurance Brokers, an indirectly wholly owned subsidiary of banking giant HSBC, has sold HSBC Actuaries and Consultants Limited (HACL) to the Jardine Lloyd Thompson for £27.25m in cash. HACL was founded in 1980 and provides actuarial and pension consultancy services, financial planning services and pension administration to UK companies. Jardine Lloyd Thompson will continue to provide consultancy services to HSBC's business customers under a new non-exclusive agreement.